MILTON, Ga., March 22, 2013 (GLOBE NEWSWIRE) -- Exide Technologies (Exide do Brasil) is pleased to announce that it has established a strategic partnership in Brazil with Comab (COMAB INDÚSTRIA, COMÉRCIO E MANUTENÇÃO DE BATERIAS LTDA – EPP) to produce and service Motive Power industrial batteries. These products will be sold and distributed primarily to the electric fork lift truck and markets in Brazil.
Under this new arrangement, battery production and assembly processes will be completed at Comab's facility in Mogi das Cruzes (outside Sao Paulo) Brazil. Exide will supply the materials, processes and technology required for the operation and Comab will provide the facilities and local management in addition to after sales service support. Products will be sold and distributed by GNB ® Industrial Power, a division of Exide Technologies, under its world leading brands. These products will be available in late 2013.
"We are very excited to be establishing this operation with Comab in Brazil. This expanded relationship will allow us to participate in a very dynamic and growing marketplace, to provide products and service solutions to many of our global OEM customers who are operating there, and to pursue new opportunities," said Paul Hirt President, Exide Americas. "Comab has been a quality service provider to GNB Industrial Power in Brazil for some time. Our strong relationship and Comab's local market expertise should lead to a long and successful relationship.""Exide's outstanding products, brands and global market presence combined with Comab's established high quality service offering makes this partnership a strong fit to meet the demands of the growth in the Brazilian industrial battery market," added Fernando Pessoa, President of Comab. About Exide Technologies Exide Technologies, with operations in more than 80 countries, is one of the world's largest producers and recyclers of lead-acid batteries. The Company's four global business groups – Transportation Americas, Transportation Europe and Rest of World, Industrial Energy Americas and Industrial Energy Europe and Rest of World – provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts